Havells Q1 net profit up 13.32% at Rs 107 crore

Written by PTI | New Delhi | Updated: Jul 28 2014, 19:08pm hrs
Electrical goods maker Havells India today reported a 13.32 per cent increase in its standalone net profit at Rs 107.27 crore for the first quarter ended June 30, on improved margins and robust cable business.

The company had posted a standalone net profit of Rs 94.66 crore during the same period of the previous fiscal.

Net sales of the company rose to Rs 1,267.27 crore for the April-June quarter, as compared to Rs 1,044.06 crore during the same period last year, Havells India said in a statement.

"Led by cable division, all our business segments have seen strong growth and improvement in margins in the first quarter of the current financial year," Havells India Joint Managing Director Anil Rai Gupta.

Its overseas operations under Sylvania has also registered profit, he added.

On the future outlook of the company, Gupta said it was 'upbeat' as industrial, infrastructure and construction sectors gain momentum with the government taking a number of policy initiatives and reviving stalled projects.

"We expect strong demand in the cable segment to spread to other segments in the coming quarters. With our wide range of products across segments and distribution network, we are geared to take advantage of this pick-up in economic activity," he added.

Shares of the company were trading at Rs 1,207 per scrip during the afternoon trade on the BSE, down 2.43 per cent from its previous close.